Windfall from depositary receipt delisting


NEW YORK: Russian companies and global banks including BNY Mellon, Deutsche Bank, Citigroup and JPMorgan could profit if Moscow moves to delist Russian companies’ depositary receipts from foreign exchanges, according to sources.

The potential windfall is due to the fees that bank issuers of depositary receipts can contractually charge investors when they cancel the product.

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Russia , depositary receipts , windfall

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